Conversation between the US and China. Neither is interested in breaking agreements.
Conversation between the US and China continue, European markets open higher this Tuesday, driven mainly by the telephone call that the trade negotiators of the United States and China have made this Tuesday morning, Beijing time, about the implementation of the Phase 1 agreement between the two countries. .
Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin participated in the talks, after the previous video conference scheduled for August 15 was canceled.
“The parties discussed the steps China has taken to effect structural changes called for by the Agreement that will ensure greater protection of intellectual property rights, remove impediments to US companies in the areas of financial services and agriculture, and eliminate transfer of forced technology “, picks up the statement from the Office of the United States Trade Representative and published by CNBC.
“The parties also discussed significant increases in purchases of US products by China, as well as future actions necessary to implement the agreement,” adds the note collected by CNBC.
The brief Chinese communiqué notes that “both sides had a constructive dialogue regarding the intensification of macroeconomic policy coordination and the implementation of the Phase 1 trade agreement,” the South China Morning Post reported.
Tensions between the world’s two largest economies have intensified in the past two years, starting in the commercial arena and spreading to technology and finance. The Trump Administration has imposed tariffs on Chinese products worth millions of dollars, to which Beijing has responded with its own tariffs.
In January, the two countries reached a phase one trade agreement that called for increased Chinese purchases of American goods and greater access to the Chinese financial market.
“For now, they have made peace today, at least in the commercial field. All very happy for the conversations. And showing that neither of them, no matter how much theater they do, then dares to mount the Nativity Scene because they are not interested. Some for the elections and others for the economic moment, ”says José Luis Cárpatos, CEO of Serenity Markets.